Mumbai– Indian equities ended Wednesday’s session in positive territory despite mixed global cues and ongoing uncertainty surrounding a potential India-U.S. trade deal ahead of the August 1 deadline.
Market sentiment remained cautious, influenced by uneven Q1 earnings and renewed concerns following U.S. President Donald Trump’s threat to impose tariffs on Indian exports.
The Sensex rose 143.91 points, or 0.18%, to close at 81,481.86. It opened higher at 81,594.52 and reached an intraday high of 81,618.96 before trading in a narrow range.
The Nifty 50 added 33.95 points, or 0.14%, to settle at 24,855.05.
“Sentiment was subdued due to lingering uncertainty over the trade deal, especially after the latest statement from the U.S. President about potential tariffs,” said Ajit Mishra of Religare Broking Ltd. “Additionally, caution prevailed ahead of the Federal Reserve’s meeting. While a rate change is unlikely, the commentary will be closely watched.”
Top gainers on the Sensex included L&T, Sun Pharma, NTPC, Maruti Suzuki, Bharti Airtel, Trent, and Axis Bank. Losers included Tata Motors, Power Grid, Bajaj Finserv, and Kotak Mahindra Bank.
The Bank Nifty index fell 71 points, dragged down by weakness in banking stocks, particularly Punjab National Bank, following disappointing Q1 earnings. Meanwhile, Nifty IT, Nifty FMCG, and Nifty Financial Services ended in the green.
Broader markets were mixed amid volatility. Nifty Next 50 and Nifty 100 posted modest gains, while Nifty Midcap 100 and Nifty Smallcap 100 declined.
The Indian rupee recorded its sharpest single-day fall since May 8, hitting a five-month low.
“This sharp depreciation was primarily driven by increased month-end dollar demand and foreign fund outflows,” said Dilip Parmar of HDFC Securities. (Source: IANS)
